Malaysia on track to achieve 3.7pct productivity growth by 2020

KUCHING: Malaysia is on right track to achieve productivity growth of 3.7 per cent by 2020, based on its labour productivity performance last year.

Malaysia Productivity Corporation (MPC) director-general Datuk Mohd Razali Hussain said productivity is one of the game changers outlined in the 11th Malaysia Plan to propel the country into becoming an advanced economy and inclusive nation.

Both public and private sectors, he said, need to cooperate to ensure comprehensive achievements at the national sector and enterprise levels.

MPC will work hand in hand with the Economic Planning Unit (EPU), lead ministries and agencies to monitor the progress of productivity, he said.

MPC has embarked on supporting the state government agenda in providing conductive business environment with pursuance of Good Regulatory Practice (GRP), through three programmes, namely, state policy on Development and Implementation of Regulation, Reducing Unnecessary Regulatory Burdens and Modernising Business Licensing.

“As such, the total potential compliance cost saving is estimated at RM32.5 million once the programmes are fully implemented,” he said.

Razali was speaking at the Business Excellence Exposition 2018 programme, themed “Sustaining Business Performance in Competitive Environment” held at Borneo Convention Centre Kuching (BCCK) here.

Concurrently, at the enterprise level, MPC facilitates local programmes designed to tap their optimal capability, generating a cost savings of RM2.3 million process innovation projects this year, he added.

More than 200 participants attended the two-day event which aim to accelerate the quest of nurturing excellent organizations in Sarawak, by promoting highly productive and world-class management practices.

Source: NST